SANTRI EN – Indonesia has the potential to become the largest waqf producer in the world. This is supported by a large Muslim population, rapid development of waqf, and government support.
According to data from the Indonesian Waqf Board (BWI), there are currently 440,512 waqf land points in Indonesia with a total area of 57,263 hectares. Of this amount, 57.42 percent have been certified as waqf land by the National Land Agency (BPN).
“The waqf potential in Indonesia is very large. With the largest Muslim population in the world and increasing public awareness of waqf, Indonesia can become the largest waqf producer in the world,” said Assistant Deputy for Economic and Financial Affairs of the Vice Presidential Secretariat, Ahmad Luthfi, at the National Conference and Workshop of the Indonesian Waqf Journalists Forum (Forjukafi) in Jakarta, Saturday (2/24/2024).
Luthfi explained that the Indonesian government has a vision to make Indonesia a waqf producer country. This vision is included in the National Long-Term Development Plan (RPJPN) 2025-2045.
“The government currently has a vision to make Indonesia a waqf producer country. This can only be realized if it is developed continuously,” said Luthfi.
To realize this vision, the government has developed the National Waqf Roadmap 2024-2029. This roadmap has a vision to realize waqf as a pillar of national economic growth and resilience.
The National Waqf Roadmap 2024-2029 focuses on six main pillars, namely:
- Increasing waqf literacy in all economic sectors and society.
- Strengthening waqf regulations and institutional governance.
- Accelerating improving the quality and performance of waqf human resources and waqf institutions.
- Developing high impact projects and product deepening.
- Integrating the waqf ecosystem through accelerating the national waqf digitalization.
- Strengthening the contribution of waqf to national development and global waqf.
Luthfi said that to realize the waqf potential in Indonesia, collaboration and synergy are needed from all parties.
“There must be harmonization between institutions, and also the role of journalists in spreading information about waqf more widely,” he said.
Meanwhile, Chairman of the BWI Executive Board, Muhammad Nuh, said that BWI continues to encourage the optimization of waqf management in Indonesia. BWI has made various efforts, such as:
- Socialization and education about waqf to the public.
- Strengthening waqf regulations and governance.
- Empowering nazhir and waqf institutions.
- Developing innovative waqf products.
Nuh said that BWI is optimistic that Indonesia can become the largest waqf producer in the world.
“With great potential and cooperation from all parties, God willing, Indonesia can become the largest waqf producer in the world,” said Nuh.
Cash Waqf Potential
In addition to waqf land, Indonesia also has great potential for cash waqf. Currently, the national cash waqf collection has reached 2.2 trillion rupiah as of October 2023, a significant increase from the collection from 2018-2021 which was only Rp 819 billion rupiah.
“Cash waqf is one of the instruments that can encourage the optimization of waqf potential in Indonesia,” said Nuh.
BWI continues to encourage the development of cash waqf in various ways, such as:
- Launching innovative cash waqf products, such as Cash-Waqf Linked Sukuk (CWLS) and Cash-Waqf Linked Deposit (CWLD).
- Collaborating with Islamic financial institutions to develop cash waqf products.
- Socialization and education about cash waqf to the public.
Nuh said that cash waqf can be used for various purposes, such as:
- Education
- Health
- Social
- Economic
- Religious
“Cash waqf can be a solution to various national problems. With great potential and good management, cash waqf can be an effective instrument to build a better Indonesia,” said Nuh.
Indonesia has the potential to become the largest waqf producer in the world. This potential is supported by a large Muslim population, rapid development of waqf, and government support.
To realize this potential, collaboration and synergy are needed from all parties, including the government, BWI, waqf institutions, and the public.
